"In part, buying interest was triggered by a relaxation of the insider rules followingthe attacks. Ordinarily, if an insider sells $50 of shares, for example, and then buys that stock at $10(I know that ,made no sense but that's how it's written) within six months, that $40 profit must be truned over to the company, according to Mr. Romeo. Following the terrorist attacks, the SEC has said that now if you buy within six months of a sale prior to Sept. 11, that purchase won't be counted and the insider can keep the profit. The relaxed rules are due to expire Friday."
My question is, what is all this about giving profit to the company, and the rest, is that true? This paragraph makes no sense to me?
What do you think about the poso of an engineered short-squeeze? First I read that some Dem wanted the SEC to suspend the right to go short, then today I read another approach about the brokerage houses being patriotic and refusing to lend shares to the shorts. It's starting to sound like a drum-beat, though faint.
Speaking of Wall St, remember that Cantor Fitzgerald guy who was on tv for days, in tears? Just read that folks are upset cause CF took all the missing employees off the pay-roll four days after the collapse. Apparently without notice, to some at least.
Thanks Paula